Covestor Ltd Reduces Holdings in News Co. (NASDAQ:NWSA)

Covestor Ltd reduced its holdings in shares of News Co. (NASDAQ:NWSA) by 42.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,406 shares of the company’s stock after selling 2,536 shares during the period. Covestor Ltd’s holdings in News were worth $91,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NWSA. International Assets Investment Management LLC purchased a new stake in shares of News in the 2nd quarter worth $26,000. Acadian Asset Management LLC grew its holdings in News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after purchasing an additional 506 shares during the period. Innealta Capital LLC purchased a new stake in News in the second quarter worth about $46,000. Family Firm Inc. bought a new position in shares of News in the second quarter worth about $73,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of News during the 3rd quarter valued at about $79,000. 66.97% of the stock is currently owned by institutional investors.

News Stock Performance

NWSA opened at $28.85 on Thursday. The stock has a market capitalization of $16.40 billion, a price-to-earnings ratio of 46.53 and a beta of 1.34. News Co. has a fifty-two week low of $20.81 and a fifty-two week high of $30.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.26 and a current ratio of 1.38. The company has a fifty day moving average of $26.75 and a 200 day moving average of $26.87.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. StockNews.com cut shares of News from a “buy” rating to a “hold” rating in a research note on Monday. Loop Capital lifted their target price on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Guggenheim boosted their price objective on News from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.